Market Wrap-Up

Miners are not trained to stop digging when they're in a hole, and apparently neither are investors in mining stocks. And so the selling of commodities and (even more enthusiastically) of the commodity share ETFs continued at an accelerated pace on Monday, driven by doubts about global demand, a spate of margin calls, and rumors that some hedge fund has failed.

Ultra-short bearish funds devised to capitalize on lower share prices did best, especially those betting against natural resources, midcaps, small caps and emerging markets. Trading volume ran well below the frantic pace seen in recent months.

A midday market rally predicated on the lower energy prices didn't last, undermined by worries about diminishing growth prospects at home and abroad. The thriftier retailers followed health care and commodity suppliers higher, but could not offset the drag from the resources and banking names.

Winners

The

UltraShort Basic Materials ProShares

DB Agriculture Double Short

Rydex Inverse 2x S&P Select Sector Energy

Ultra Health Care ProShares

iShares S&P Global Consumer Staples

iShares MSCI Netherlands

iShares MSCI Switzerland

Losers

Stripped of their commodity-based premium, emerging markets markers submerged as evidenced by the

iShares MSCI Emerging Markets

Claymore/Robb Report Global Luxury

Coach

Monday's notebook

Earnings

Proctor & Gamble, Cisco Systems

Economic Data

Tuesday:

ISM Services (10 a.m.), Federal Reserve's rate announcement (2:15 p.m.)

Quick Take

A look at how the industry's most popular ETFs did on Monday: